Investors say ex-UGA coach promised huge returns

By Kate Brumback

Associated Press

POSTED: 09:06 a.m. HST, May 09, 2014

ATHENS, Ga. >> Several investors testified that the former University of Georgia
football coach on trial on fraud charges assured them the investment
opportunity he was pitching carried virtually no risk and would bring
tremendous returns.

The investors testified Friday in federal
court in Athens that their relationship with Jim Donnan and their trust
in him prompted them to invest. They all lost sums of money ranging from
tens of thousands of dollars to more than a million.

Donnan faces
charges of conspiracy, mail fraud and wire fraud. He and another man
are accused of running a scheme through GLC Limited, Inc., a West
Virginia-based company dealing in closeout merchandise.

Prosecutors
say Donnan falsely told investors that they were investing in "presold
deals" when he and his partner were actually buying merchandise and then
looking to sell it.

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